Trump has been campaigning to end the cost of living crisis, and to do more for the working class of America.
Yet, his economic plan of a tax cut for companies from 21% to 15%, combined with tariffs of 10% across-the-board and tariffs of 60% on products specifically from China (ref. 1), first of all, will increase the prices of the goods in question by the amount of the tariffs, which in turn will almost surely provoke further inflation (a general rise in the prices of goods and services). Not only that. Trump's plan will also see the US national debt, which is already at a level that the US cannot actually service, increase considerably. America must surely print more money out of thin air and do the US government bonds thing because the loss of tax revenue from the proposed tax cut cannot be recovered from the proposed increase in tariffs. Economists say, it is mathematically impossible. In fact, Trump's plan will likely bring about the phenomenon of stagflation, a combination of inflation and negative economic growth. It is also noteworthy that, in essence, Trump's plan is a reverse Robin Hood: take from the poor and the middle class, and give to the rich!
Now, regarding Bible prophecy, for a long while I have argued that at some point in the future the US government will deliberately trigger hyperinflation. The reason for this is that, in economics, the textbook solution to hyperinflation is the introduction of a new currency. In these last days, the new currency that America will introduce will be the prophesied mark of the beast. This will not be a worldwide currency as some have thought, but rather the currency of one particular country, Mystery Babylon.
And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
Revelation 13:16-17
For some time now, America has been bankrupt literally. The US debt is unsustainable, and it has long been clear that America has no intention of repaying what it has borrowed. Keynes famously said, If you owe your bank a hundred pounds, then you have a problem; but if you owe a million, then it is the bank that is the one with the problem. As of July 2024, America owes its creditors some $35 trillion!
All that Quantitative Easing from Modern Monetary Theory is to blame.
Now, in many parts of the world today, there is a cost of living crisis. Everything is getting more expensive, and households are struggling to make ends meet.
I could be wrong about this, but I think the cost of living crisis is due largely if not entirely to the USA. Maybe one day, somebody will crunch the numbers and find out. My guess is, there is no cost of living crisis in countries that do not trade much with America, and countries that are sanctioned financially by America.
I suspect, it is countries that import American made goods, and countries where the likes of Visa, Mastercard, Discover, and American Express exist, and even Buy Now and Pay Later and other American Fintechs, that are suffering an inflation problem, despite the efforts of the local central bank to keep inflation in check through higher interest rates. If you consider the goods on the shelf of a supermarket, you will notice that the prices of American made goods (eg. canned goods from America) are high and continually increasing. Furthermore, if you look at the credit card industry and also at increasingly popular forms of Fintech, you will notice that delinquency is up, yet the amount of credit on offer is also up. It is said, some households are now so desperate that they are paying bills and buying groceries on credit through credit cards. So, I think, America is not only provoking price increases generally because of their more expensive goods, but America must also be affecting the money supply of many a country in some obsure way.
Going back to the matter of hyperinflation in the USA, it seems, everything has been waiting for a Donald Trump second term. Trump's plan to cut America's company tax rate and at the same time increase tariffs will almost surely bring it about.
So this is it. This is actually happening. The end of the US dollar begins next year!
References
1. Aimee Picchi (19 July 2024), "Trump says he'll end the inflation nightmare. Economists say Trumponomics could drive up prices.", cbsnews.com